1. Field of the Disclosure
The present disclosure relates to the field of insurance products. More particularly, the present disclosure relates to a system, a method and a non-transitory tangible computer readable storage medium for determining an insurance coverage amount for an insurance plan holder having a health insurance plan.
2. Background Information
For various reasons and circumstances, adequate health insurance coverage can be difficult to obtain for many Americans. Additionally, many low income families and young workers may not have the financial means to afford meaningful health insurance coverage without sacrificing other necessities (e.g., food, clothing, shelter). As a result, these individuals and families cannot save as much of their income and purchase other resources. Thus, individuals and families may find themselves having to decide whether or not to forego maintaining health insurance coverage altogether, and there is a negative effect on the overall health system's well-being because of these uninsureds' liabilities.
For at least the foregoing reasons, there is a need for a health insurance product that enables individuals and families to protect themselves with not only meaningful health insurance coverage that adequately covers them in the case of an emergency, sickness, physical ailment, serious potential health concerns, and/or untimely illness but also provides meaningful, long term and affordable health insurance coverage.
Further, there is a need to increase the flexibility of health insurance plans so that individuals and families retain even more control and affordability over their health insurance coverage and costs.